Nestlé Canada Inc. has agreed to sell its Nestlé Pure Life bottled water business to Ice River Springs.
The tentative deal includes the Nestlé plant in Aberfoyle and the well it owns in Hillsburgh.
The deal isn't final until the regulatory review process is complete.
Ice River Springs is a family-owned Canadian company based in Shelburne, Ont., with 14 locations across the country and the United States. They have been in operation since 1995.
“In late 2019, we began the exploration of a potential sale of our Nestlé Pure Life business in Canada, as we had determined that we are best positioned to focus on our iconic international brands of San Pellegrino, Perrier and Acqua Panna,” said Nestlé Canada CEO Jeff Hamilton in a news release of the deal, which was announced Friday.
In addition to water bottling operatins, Ice River Springs also has a plastics recycling operation, BMP Recycling, that takes bottles and plastic food packaging collected by municipalities.
“This is a significant step in our strategic sustainability journey and with the addition of this iconic brand, their skilled and dedicated people across the country and the resources of this business, we will continue our commitment to sustainable bottled water, the circular economy and to hydrating Canadians,” says Sandy Gott, Executive Vice-President and Co-owner of Ice River Springs in the same news release.
The deal comes as the province of Ontario prepares to implement new water bottling regulations in the fall, giving municipalities more say in water-taking operations.
The new rules come three years after the former Liberal government enacted a moratorium on new and expanded water bottling permits.